Business
CytoSorbents Reports Full Third Quarter 2021 Financial and Operational Results
Third Quarter 2021 total revenue was $9.8 million, including product sales of $8.9 million. Core non-COVID-19 product sales increased 3% Y-Y to approximately
About this update from Cytosorbents Corporation
[{"type":"text","content":"Third Quarter 2021 total revenue was $9.8 million, including product sales of $8.9 million. Core non-COVID-19 product sales increased 3% Y-Y to approximately $7.8 million.\n\n\nMONMOUTH JUNCTION, N.J., Nov. 4, 2021 /PRNewswire/ -- CytoSorbents Corporation (NASDAQ: CTSO), a leader in the treatment of life-threatening conditions in the intensive care unit and cardiac surgery using blood purification via its proprietary polymer adsorption technology, reports full financial and operating results for the quarter ended September 30, 2021.\n\n \n \n \n \n \n \n\n \nCytoSorbents Reports Full Third Quarter 2021 Financial and Operational ResultsThird Quarter 2021 Financial Results\nTotal revenue, including product sales and grant income, for Q3 2021 was $9.8 million, compared to $10.5 million in Q3 2020, a decrease of 7%. Q3 2021 CytoSorb product sales were $8.9 million, down 13% compared to $10.2 million in Q3 2020. Q3 2021 product sales in Germany were $3.7 million, a decrease of $1.1 million or 24% from product sales of $4.8 million in Germany in Q3 2020. Core non-COVID-19 product sales for Q3 2021 were approximately $7.8 million, up 3% from approximately $7.5 million in Q3 2020. Estimated Q3 2021 COVID-19 related sales were $1.1 million, compared to an estimated $2.7 million in Q3 2020. Q3 2021 product gross margins were 82%, as compared to 74% in Q3 2020. The Company maintains a healthy cash balance of $61.0 million at September 30, 2021 with no debt.Recent Operating Highlights\nIn October, CytoSorbents enrolled the first patient in the pivotal U.S. STAR-T (Safe and Timely Antithrombotic Removal – Ticagrelor) double-blind, randomized controlled trial in the United States to support FDA marketing approval of the DrugSorb-ATR™ antithrombotic removal system for intraoperative ticagrelor removal during urgent cardiothoracic surgery. Following receipt of a second Breakthrough Designation attributed to DrugSorb-ATR for the removal of the market-leading Direct Oral Anticoagulants (DOACs) apixaban and rivaroxaban during urgent cardiothoracic surgery in August, the Company successfully filed an IDE application and received full FDA approval to begin the pivotal STAR-D ( Safe and Timely Antithrombotic Removal – Direct Oral Anticoagulants) double-blind, randomized controlled trial in the United States to support marketing approval for this addi...